{"id":"F2006B01625","name":"ASIC Class Order [CO 00/0238]","slug":"asic-class-order-co-00-0238","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":40954,"registerId":"commonwealth-F2006B01625-current","compilationNumber":null,"startDate":"2026-04-01","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Class Order [CO 00/0238]","content":"ASIC Class Order \\[CO 00/238\\]\n\nDividend reinvestment plans\n\nThis instrument has effect under subsection 741(1) of the Corporations Act 2001.\n\nThis compilation was prepared on 4 October 2005 taking into account amendments up to \\[CO 03/68\\].\n\nPrepared by the Australian Securities and Investments Commission.\n\nAustralian Securities and Investments Commission  \nCorporations Act 2001 — Subsection 741(1) — Exemption\n\nUnder subsection 741(1) of the Corporations Act 2001 (the Act), the Australian Securities and Investments Commission hereby exempts from Part 6D.2 of the Act registrable Australian bodies in relation to an offer of fully paid shares in the body to one or more existing holders of shares in the body under a dividend reinvestment plan or a bonus share plan.\n\n> Notes to ASIC Class Order \\[CO 00/238\\]\n\n> Note 1\n\n> Note: ASIC Class Order \\[CO 00/238\\] (in force under the subsection 741(1) of the Corporations Act 2001) as shown in this compilation comprises that Class Order amended as indicated in the Tables below.\n\nTable of Instruments\n\n| Instrument number | Date of making or FRLI registration | Date of commencement | Application, saving or transitional provisions |\n| ----------------- | ----------------------------------- | -------------------- | ---------------------------------------------- |\n| [CO 00/238]       | 12/3/2000                           | 13/3/2000            | -                                              |\n| [CO 03/68]        | 7/2/2003                            | 7/2/2003             | -                                              |\n\nTable of Amendments\n\n> Note: ad. = added or inserted am. = amended rep. = repealed rs. = repealed and substituted\n\n| Provision affected  | How affected   |\n| ------------------- | -------------- |\n| Text of class order | rs. [CO 03/68] |","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":2279},"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"The instrument remains focused on its original purpose of exempting dividend reinvestment and bonus share plans from disclosure requirements. The amendment history shows a textual substitution in 2003 ([CO 03/68]) but no expansion into unrelated areas or significant broadening of coverage beyond the original intent."},"complexity_factors":["Single, concise exemption clause with no subsections or schedules","No defined terms or interpretation section","Minimal cross-referencing (only to Part 6D.2 and section 741(1) of the Corporations Act)","Straightforward application to two specific, well-established types of share offers"],"plain_english_summary":"**What this does:** This is a regulatory exemption that allows **registrable Australian bodies** (certain companies registered in Australia, including some foreign companies) to offer shares to their existing shareholders through dividend reinvestment plans or bonus share plans without preparing expensive disclosure documents.\n\n**The technical bit explained:** Normally, when a company offers shares to investors, the *Corporations Act* requires them to issue a disclosure document (like a prospectus) under Part 6D.2. This Class Order removes that requirement for two specific situations:\n\n- **Dividend reinvestment plans (DRPs):** Where shareholders choose to receive new shares instead of cash dividends\n- **Bonus share plans:** Where companies issue free shares to existing shareholders\n\n**Why it matters:** This makes it cheaper and simpler for companies to run these common shareholder programs, while protecting investors who already own shares and are familiar with the company."}},"importantCases":[],"_links":{"self":"/api/acts/asic-class-order-co-00-0238","history":"/api/acts/asic-class-order-co-00-0238/history","analysis":"/api/acts/asic-class-order-co-00-0238/analysis","conflicts":"/api/acts/asic-class-order-co-00-0238/conflicts","importantCases":"/api/acts/asic-class-order-co-00-0238/important-cases","documents":"/api/acts/asic-class-order-co-00-0238/documents"}}